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Hi,
Last week was interesting, we saw the candle stick on EUR forming an evening star on Friday and follow after that we have a down fall of EUR. Thereafter, for the next four days the market recovers and shoot upward. Based on the candles setup, the bullish trend remain strong, if you refer to the weekly chart we have a hammer and the RSI shows an overbought level above 70. We need the price to break through 1.4545, this figure is important becuase this is the highest since 1995. if the price exceed this level I am confident that the trend will continue further up.
Cable: This pair has price itself above the range as indicated but with two very short bars on the daily chart implying that the market is still not ready to move upward yet. Nevertheless, this pair is still in the bullish market. RSI is still within comfortaable for further uptrend.
Swissy: This pair ended up with a doji star on the weekly chart. As shown n the chart, if the price is able to penetrate the lower part of the channel then a clear bearish signal will be given. So we still need one more week to see the direction for this pair.
Regards
Dollar Yen (Doppy)
Hi,
Please find attached the 4 hours chart for dollar yen below, we see another closing wedge forming, the price keeps narrowing down to a smaller range looking for an opportunity to breaks through the trend line.
I see a strong resistance at 114.523, 115.02 and support at 113.81, 113.25. Out of this value given, I find the support at 113.25 is the most significant one.
I will not determine the direction now because the RSI level at 14 is floating at 50 level. Further setup is required on this pair. If you want a "Hurray" breakout on this pair, you need to watch it closely with the ADX signal and RSI I mentioned in the previous post.![](https://c.mql5.com/forextsd/smiles/boss.png)
Regards
Hi All,
The market last week was an interesting one, exceall market seem to be performing in one way or another:
AUD and CAD: Both pairs are looking good at the moment with no significant sign of slowing down. AUD is climbing up and CAD still bearish down by the weak USD.
Cable: This pair continue to bull up by the weak weak US dollar. The RSI for this pair had finally hit the 70 level but the trend is still strong. The weekly chart shows a doji by an up bar signify that the bullish may had more upside room to go.
EUR: The RSI for this pair had been hanging around the 70 level for many weeks and yet no sign for retracement. It has hit many important resistance and heading further. The daily chart shows an engulfing bar setup which signify that the market may want to go further up.
CHF: This pair has been a good pari for scalping for a long period of time. Based on the weekly chart this pair still remain downside waiting for further setup to confirm it direction.
Yen: This is another interesting pair, the closing wedge pattern in the weekly chart is setting up waiting for new direction to move. This shall be another good pair for scalping.
Good Trading to all!
Regards
hi bro...
can you give me explaination details about your trading system..
i want to learn u from you bro...
New indicator
Hi,
I have decided to keep this post (66) as an update for any new indicators or improvment to the woodies cci. On the other hand, if you have any new discoveries please let me know so that I could post them up and update them. Thanks.
WcciPatterns_v2Alert[1] - The origninal of this indicators comes without any alert. So I would like to thanks Robert (MrPip) for his kindness to help me with this indicator. This indicator is very useful and works in conjunction with WCCI indicators. I have changed / modified this indicators myself to suit my trading style. But I think it is still very important to place the original one over here (in respect to Robert).
CZI and SideWinder - This program comes without any code, if you need the code you need to write in for request. Without the code it is impossible to program EAto do auto trade on MT4. But if you have the code please let me know. Thanks
DailyWoodPivot.mq4 - I have programmed the woodies pivots point myself, due to my lousy software skills there could be bugs not fixed yet. So if you find anything wrong please highlight to me. I find look into it and fix if I know how. This indicator is a replacment over the previous one WPivotP.mq4, the improvment on this indicator is that it provide past history data of Woodie PP. You may need these data for your backtesting!
I shall do further research on this interesting indicator and hope that it would contribute / improve my trading performance as a whole.
Note: Due to the lack of spacing to attach more files i have made post 67 to be part of my woodies indicators collection post as well.
Therefore, good trading everybody.
visit my Blog: Sheker - Traders Helping Traders
I will try my best to update the daily performance of my system! Wait for my annoucement
Market next week
Hi All,
Cable: When I switch to the weekly chart this morning on the Cable, I noticed a very obvious morning star setup. Look at the doji and the down bar, and the RSI pointing downside, be prepared for a bearish market or a choppy market. Upside trend is unlikely to me.
I draw a fib. line on the daily chart, the price had now drop to the 50% level, traders must wait for a clear setup for further direction.
EUR - Similar situation occurs on the EUR also, the price on the weekly chart ended up with a doji and RSI is as usual overshoot, we shall wait and see how the market goes. The price action keep trying around 1.4752, may also imply that the resistance is very strong in this region.
CHF - The weekly chart had a hammer bar on it and the RSI shows oversold sign. The daily chart shows a very undecisive price action, so this may imply that trend will change.
I shall try to update the market after monday!
Good trade everybody!!!
Thanks
Thanks for sharing.
CAD and AUD
Hi,
CAD: A hammer follow by a up bar on the weekly chart had clearly shown that there could be a reversal trend following on next week. The RSI is for the weekly and daily chart is looking up. I also draw a fib. line on the daily chart (not shown) the revesal is not up till 50% yet, so there could be room to go further up.
AUD: A tower Top was setup on the weekly chart of the AUD leaving two tails behind as their resistance (0.9381). The RSI was in the up side and the fib. has only reached 38.2%. There should be more room to go down further I think.
with the setup last week, CAD and AUD shall be an interesting pairs to look at.
Good trading ALL!!!
Regards
EUR Dollar
Hi All,
This post has been modified to extend the update and posting of woodies cci indicators.
In this post i have introduce the following indicators:
1) BH_Ergodic - This indicator act as a filter to further confirm the expectancy of CCI patterns especially the ZLR pattern. I take this opportunity to thank Lava for his contribution of this indicator.
2) Candle Time - If you notice the standard WCCI panel from the PFG Best Direct Protrader platform, there is a time monitoring indicator to inform the trader the time left in the current bar. I have found one similar indicator in this forum and have it posted here to made up a more complete set of system for WCCI trading method.![](https://c.mql5.com/forextsd/smiles/face.png)
3) FX Sniper's MA - This is just another ema that will change colour based on the up and down trnd of the line. This will help you to identify the trend direction of the 34ema. I have made some minor modification on this indicator, the green is up and red is down. Setting should change to 34.
4) CCI_Diff - This is an useful indicator that can calculate the CCI different of the current and previous bar. You can use it for ZLR pattern.
5) DailyWoodyPivotPoint: Hi George, pls check and see if this is OK for you.
I hope you would made profit with all the sharing I had in this thread and don't forget to made some contribution to the charity if you got success.
Good trading to all!![](https://c.mql5.com/forextsd/smiles/You_Rock_Emoticon.png)
visit my Blog: Sheker - Traders Helping Traders
I will try my best to update the daily performance of my system! Wait for my annoucement
Intraday Method
Hi All,
This week i have programmed a set of indicators for intraday market. I will use them in conjunction with the weekly analsis to trade. I will see how well this method perform.![](https://c.mql5.com/forextsd/smiles/angel_smile.png)
https://www.mql5.com/en/forum/178167
Regards